Spring Capital Management LLC Purchases 3,732 Shares of Chevron Co. (NYSE:CVX)

Spring Capital Management LLC increased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 11.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,360 shares of the oil and gas company's stock after buying an additional 3,732 shares during the period. Chevron accounts for approximately 3.1% of Spring Capital Management LLC's portfolio, making the stock its 16th largest holding. Spring Capital Management LLC's holdings in Chevron were worth $5,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake in Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock valued at $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company's stock worth $2,869,171,000 after buying an additional 672,244 shares in the last quarter. Franklin Resources Inc. grew its position in Chevron by 3.4% during the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company's stock valued at $2,610,645,000 after acquiring an additional 573,218 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock worth $2,676,957,000 after acquiring an additional 501,969 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Up 1.4 %

CVX traded up $2.16 during midday trading on Friday, reaching $161.54. The company's stock had a trading volume of 9,233,657 shares, compared to its average volume of 7,835,055. The stock's 50-day moving average is $153.93 and its 200-day moving average is $151.05. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market capitalization of $290.30 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the company earned $3.05 EPS. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 10.39 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron's payout ratio is 71.65%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and upped their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays boosted their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. UBS Group increased their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Truist Financial boosted their price target on Chevron from $160.00 to $164.00 and gave the company a "hold" rating in a report on Monday, January 13th. Finally, Wells Fargo & Company lifted their price objective on Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Chevron presently has an average rating of "Moderate Buy" and an average price target of $175.27.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.